Christie & Co provides valuation services in £10 million acquisition
Specialist business property adviser, Christie & Co has provided valuation support in the acquisition of six petrol filling station sites by leading East Yorkshire forecourt retailer, Sewell on the go from Rix Petroleum in a £10 million investment.
The sites, which were previously rented by Sewell on the go, now take the total group to 13 forecourts and convenience stores in Hull and the East Riding of Yorkshire, serving more than four million customers. Christie & Co’s Valuation team were instructed by RBS to conduct a full valuation of the six sites, providing vital guidance on the total pricing of the deal.
Patrick Sewell, Managing Director of Sewell on the go comments, “There is a lot of uncertainty around Brexit at the moment and we have chosen to invest, providing more certainty, security and confidence for our customers and staff going forward.
“We are looking to continue to grow within the Yorkshire region and we are certainly keeping our options open regarding additional sites and other potential opportunities. We are incredibly proud to have 13 stores in a very close knit trading area. This acquisition is a positive move, investing for the future.”
Steve Rodell, Managing Director – Retail at Christie & Co, comments, “We are delighted that our valuations team were part of the process that enabled Patrick and his team to buy these sites. We have worked with Sewell Retail for many years and look forward to watching them develop and make these sites as successful as the rest.”
